Home Loan Guaranty
VA helps Servicemembers, Veterans, and eligible surviving spouses
become homeowners. As part of our mission to serve you, we provide a home loan
guaranty benefit and other housing-related programs to help you buy, build,
repair, retain, or adapt a home for your own personal occupancy. VA Home Loans
are provided by private lenders, such as banks and mortgage companies. VA
guarantees a portion of the loan, enabling the lender to provide you with more
favorable terms.
The SCRA allows Servicemembers to suspend or postpone certain civil
obligations to devote your full attention to military duties.
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»
Learn about lender and servicer requirements for loans secured by properties
in natural disaster areas designated by the Federal government.
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The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers your interest
rate by refinancing your existing VA home loan. No appraisal or
credit-underwriting package is required when applying for an IRRRL.
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»
See how National Guard and Reserve members like you have used their VA
benefits to get a degree, buy a house, ensure financial stability, and more.
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Benefit Description
VA offers a variety of home loan guaranty programs for Active Duty
Servicemembers, Veterans, and National Guard and Reserve members.
Purchase Loans help you purchase a home at a competitive
interest rate often without requiring a downpayment or private mortgage
insurance. Cash Out Refinance loans allow you to take cash out of your home
equity to take care of concerns like paying off debt, funding school, or making
home improvements.
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Interest Rate Reduction Refinance Loan (IRRRL): also called
the Streamline Refinance Loan can help you obtain a lower interest rate by
refinancing your existing VA loan.
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Native American Direct Loan (NADL) Program: helps eligible
Native American Veterans finance the purchase, construction, or improvement of
homes on Federal Trust Land, or reduce the interest rate on a VA loan.
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Adapted Housing Grants: help Veterans with a permanent and
total service-connected disability purchase or build an adapted home or to
modify an existing home to account for their disability.
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Eligibility Requirements
The length of your service or service commitment and/or duty status may
determine your eligibility for specific home loan benefits.
Purchase Loans and Cash-Out Refinance: VA-guaranteed loans
are available for homes for your own personal occupancy. To be eligible, you
must have a good credit score, sufficient income, a valid Certificate of
Eligibility (COE), and meet certain service requirements.
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Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is
a "VA to VA" loan, meaning it can only be applied to refinance an existing VA
loan. An IRRRL can be done only if you have already used your eligibility for a
VA loan on the property you intend to refinance.
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Native American Direct Loan (NADL) Program: The NADL program
helps Native American Veterans purchase, construct, improve, or re-finance a
home on Native American trust lands. Your tribal organization must participate
in the VA direct loan program. You must have a valid Certificate of Eligibility
(COE) and meet certain service requirements.
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Adapted Housing Grants: VA helps Veterans with certain total
and permanent disabilities related to your military service obtain suitable
housing with either a Specially Adapted Housing (SAH) or Special Housing
Adaptation (SHA) grant.
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Application
Process
Purchase Loan & Cash-Out Refinance: VA loans are
obtained through a lender of your choice once you obtain a Certificate of
Eligibility (COE). You can obtain a COE through
eBenefits, by mail, and often
through you lender.
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Interest Rate Reduction Refinance Loan: A new Certificate of
Eligibility (COE) is not required. You may take your Certificate of Eligibility
to show the prior use of your entitlement or your lender may use our e-mail
confirmation procedure in lieu of a certificate of eligibility.
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Native American Direct Loan (NADL) Program: First, confirm
that your tribal organization participates in the VA direct loan program. NADL
loans are obtained through a lender of your choice once you obtain a Certificate
of Eligibility (COE). You can obtain a COE through
eBenefits, by mail, and often
through you lender.
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Adapted Housing Grants: You can apply for an SAH or SHA
grant by either downloading and completing VA Form 26-4555 (PDF) and submitting
it to your nearest Regional Loan Center, or completing the online application.
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